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Cyclone Power Technologies, Inc (CYPW)

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Last Post: 1/19/2018 4:55:48 PM - Followers: 230 - Board type: Free - Posts Today: 0

Cyclone Power Technologies, Inc  

Website: http://www.cyclonepower.com       Facebook           Filings at the SEC       Filings at OTC Markets (including pre-SEC filings) 

Business:

Cyclone describes themselves as a research and development company who have developed a modern steam engine.  They have produced some prototype engines, but have no commercially available products and have never publicly demonstrated a running engine.

History:

Chairman and CTO Harry Schoell had spent many years in the powerboat industry.  His company, Schoell Marine, occupies a 6000 square foot building in Pompano Beach, Florida.  Schoell has no education beyond high school and describes himself as an inventor.  In the early 2000s he experimented with steam engines. In an article in Professional Boatbuilder magazine April/May 2016 page 29 Schoell explained the reason he created Cyclone Power Technologies:

The past 10 years he has devoted his mind and resources to compact steam engines. "We wanted to build a clean-air multi-fuel engine, because it fit the times and the marine industry was faltering," he says.

After Cyclone Power started raising money from investors, Schoell had Cyclone lease the entire Schoell Marine building and enter a services contract with Schoell Marine, his privately held company.

Use of Funds:

  Research &
Development
General &
Adminstrative
Property &
Equipment
Notes
2007 Annual Report 814,685 674,774 14,777  
2008 Annual Report 1,090,911 1,139,878 19,695  
2009 Annual Report 1,115,795 1,332,757 78,130 1
2010 Annual Report 830,611 1,241,379 83,784  
2011 Annual Report 983,276   2,628,835 108,243 2
2012 Annual Report 1,091,501 2,203,713 376,177 3
2013 Annual Report 772,795 2,100,104 376,763  
2014 Annual Report 845,499 1,890,152 163,166  4,5
2015 Annual Report 275,610 653,103  126,520 4
2016 Annual Report 478,299 967,706 93,272 6
Q3 2017 Report 162,462 856,934 72,517  
Totals 8,461,444 15,689,335      
Notes:
1: $39,953 of the increase in property and equipment was leasehold improvements
     to Harry Schoell's building.
2: $27,751 of the increase in property and equipment was leasehold improvements
     to Harry Schoell's building.
3: Equpment increased 270,396 with no explanation.  This was the year Cyclone
     had a land speed record race car custom built.
4: The 2014 report was filed two years late.  The 2015 report was filed one year late. 
     Cyclone switched to new auditors for these reports.  There were large write-downs
     of the value of inventory, which were added to the R&D expenses.  The numbers
     given here are the actual R&D spending in each year.
5: By 2014 total leasehold improvements on Harry Schoell's building had reached $93,922.
6: Cyclone again switched auditors.  R&D is net of inventory provisions.

Even though Cyclone claims to be an R&D-only company, for every dollar spent on R&D, almost two dollars have been spent on General & Administrative. (In 2017 the ratio had increased to $5 on G&A per dollar of R&D.) That spending has never been broken down, but the only place most of it could have gone is into the services contract with Schoell Marine.  In addition, it is likely a large part of the R&D spending went to Schoell Marine.  No commercial products have resulted from this spending.

Dilution:

Cyclone has continued to operate the last few years by diluting the stock. A/S is 6,000,000,000 shares. Chart from ycharts.com up to August 2017:

As of December 18, 2017, there were 2,726,067,954 shares of the registrant’s common stock issued and outstanding. (Source: Q3 2017 report)


Recent (2016) photo of the inside of Cyclone's facility.


CTO Harry Schoell and former President Christopher Nelson, photo from 2011 Cyclone Shareholder Open House (The event where Schoell told investors that all the technological problems with the Cycone engine had been "overcome".)

President of Cyclone, " We have a small accounting staff and we do not have the robust employee resources and expertise needed to meet complex and intricate GAAP and SEC reporting requirements of a U.S. public company. "
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CYPW News: Quarterly Report (10-q) 01/08/2018 05:10:40 PM
CYPW News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 11/14/2017 05:16:45 PM
CYPW News: Amended Annual Report (10-k/a) 09/11/2017 05:22:59 PM
CYPW News: Amended Quarterly Report (10-q/a) 09/05/2017 06:28:32 AM
CYPW News: Amended Quarterly Report (10-q/a) 09/05/2017 06:22:01 AM
PostSubject
#26693  Sticky Note Molten Salt wrote:I think they are issuing stock BuddyWhazhizname 01/15/18 12:19:14 PM
#19662   I hope that isn't the royalty that CYPW now invest 02/23/12 10:24:20 AM
#19661   Phoenix emailed me and says Phoenix 10 should littemickey 02/23/12 08:56:01 AM
#19660   True, and... 612rat 02/22/12 06:09:18 PM
#19659   This is all there is to know... jjeeddoo7 02/22/12 03:52:04 PM
#19658   Next week ARPA-E ENERGY INNOVATION greenpar 02/22/12 11:54:35 AM
#19657   News February 22, 2012 09:05 AM Eastern Time now invest 02/22/12 09:17:51 AM
#19656   I agree... It is time that they pull now invest 02/21/12 01:39:07 PM
#19655   Dilution has been going on for too many ball8 02/21/12 01:28:29 PM
#19654   I agree with you...on this... now invest 02/21/12 01:13:08 PM
#19653   I read the announcement today, and just feel ball8 02/21/12 11:30:20 AM
#19652   Notice from Cyclone today: Piecemaker 02/21/12 11:06:51 AM
#19651   Again "now invest" says it best. CYPW littemickey 02/21/12 09:49:07 AM
#19650   Great Call out.... CYPW has to get the now invest 02/21/12 08:44:33 AM
#19649   Hey Cyclone: 612rat 02/20/12 09:21:03 PM
#19648   I am not sure but based on the littemickey 02/20/12 06:26:52 PM
#19647   Science guys.. could CYPW use this stuff for something? grajekk 02/20/12 10:45:52 AM
#19645   In the case of Cyclone "now invest" is littemickey 02/19/12 03:38:48 PM
#19644   Acquisition of Advent Power Completed Piecemaker 02/17/12 11:34:31 PM
#19643   On or about March 2, 2012, the Advanced 612rat 02/17/12 08:10:18 PM
#19642   ARPA-E stuff: 612rat 02/17/12 08:08:04 PM
#19641   The statement was made INCORRECTLY that this would now invest 02/17/12 12:11:06 PM
#19640   1 + 1 = 2 dotell 02/17/12 11:57:13 AM
#19639   Bottom line is net, Revenue is top now invest 02/17/12 10:42:48 AM
#19637   Cyclone Power Technologies Completes Acquisition of Defense Contractor, Piecemaker 02/16/12 10:30:50 AM
#19636   I can't find this in the official announcement.. now invest 02/16/12 10:14:16 AM
#19635   Well... while not all out today... 1.5 now invest 02/16/12 10:11:16 AM
#19634   dotell, seems we have something in common...there is a jjeeddoo7 02/16/12 10:08:19 AM
#19633   NEWS..... .. POMPANO BEACH, Fla.--(BUSINESS WIRE)-- now invest 02/16/12 10:02:59 AM
#19632   AH.. never said that ONE post would now invest 02/16/12 09:59:45 AM
#19631   I will use my one (imposed rationing) post dotell 02/16/12 09:22:10 AM
#19630   Hi. I have checked into your concern about KatmasterM 02/16/12 09:14:01 AM
#19629   On the shorting... I just don't like the now invest 02/15/12 04:23:58 PM
#19627   I can only hope you are not part littemickey 02/15/12 02:55:45 PM
#19626   Lol oh gosh, that's huge! Intuitions25 02/15/12 12:52:47 PM
#19624   Yes, I do. However, I also believe it Cee-It 02/15/12 12:45:11 PM
#19623   Once again, what news was released on Facebook? fastpathguru 02/15/12 12:38:30 PM
#19622   Once again, what news was released on Facebook? Intuitions25 02/15/12 12:17:57 PM
#19620   You are right. and it is now invest 02/15/12 11:58:26 AM
#19619   This is not a unique situation. There are Cee-It 02/15/12 11:50:17 AM
#19615   Now invest is correct. The SEC, NASD, And littemickey 02/15/12 08:56:05 AM
#19614   I hope you are correct. I hope now invest 02/15/12 07:12:48 AM
#19613   Lol yea Nelson by trade is a lawyer. Intuitions25 02/15/12 07:03:41 AM
#19612   The knicker twisting news is... hold on to dotell 02/15/12 06:55:38 AM
#19611   I'm sure the company lawyers would make them grajekk 02/14/12 11:07:52 PM
#19610   Guess that is a request to bring it now invest 02/14/12 10:32:27 PM
#19609   OHHH, I must have missed some news somewhere. Intuitions25 02/14/12 08:50:47 PM
#19608   Please, read the DD over!! I think now invest 02/14/12 08:14:09 PM
#19606   Hold back those reigns there cowboy. Intuitions25 02/14/12 07:52:56 PM
#19605   I start to worry about the SEC when now invest 02/14/12 07:25:59 PM
#19604   A follow up by Frankie Fruge on Facebook: Intuitions25 02/14/12 10:29:02 AM
PostSubject